Sensex Today | Share Market Live Updates : Asian shares subdued, Gift Nifty indicates muted start at opening bell
Asian shares were pinned below 1-1/2 month highs on Tuesday as even a larger-than-expected interest rate cut in China failed to excite investors jaded at the lack of bigger stimulus measures.
Elsewhere Japan’s Nikkei opened flat to stay below but close to topping its 1989 record high.
MSCI’s broadest index of Asia-Pacific shares outside Japan slipped 0.1%, pulling away from its highest level since January touched during Monday. South Korean shares fell 1%.
U.S. Treasury yields ticked up, as trade resumed following Monday’s U.S. holiday. S&P 500 futures were 0.2% lower.
Outside China, global markets are smarting a little as traders have sharply scaled back bets on U.S. rate cuts following high readings on producer and consumer prices.
Economic indicators, on which this week is a little bit light, are likely to drive the next move.
Ten-year U.S. Treasury yields rose 1.4 basis points to 4.31%. Two-year yields were steady at 4.65%.
Oil prices were little changed in early Asian trading on Tuesday, hovering close to three-week highs on heightened Middle East tensions and recovering China demand.
Sensex Today Live : Asian shares subdued, Gift Nifty indicates muted start at opening bell
Gift Nifty futures, which were at 22,139.50 at 7:40 am, were marginally ahead of Monday’s Nifty close of 22,122.25.
But Gift Nifty was down from Monday’s, and also its all-time-high, of 22,186 that Nifty touched during the day’s trade, indicating a slow start for markets on Tuesday.
Elsewhere, Asian stocks held to tight ranges Tuesday as investors awaited fresh catalysts after US markets were closed for a holiday Monday.
Stocks in Australia fell, while those in Japan eked out a gain. Futures for Hong Kong shares edged higher, and contracts for US equities were little changed.
A gauge of global stocks was just 1.1% from its peak after the S&P 500 set a fresh record last week, while the region-wide Euro Stoxx 50 hovered near a two-decade high.
